Nano Labs (NASDAQ:NA) Shares Up 0.9% - Still a Buy?

Key Points

• Nano Labs Ltd. stock price rose 0.9% to $4.66 during mid-day trading, with a significant drop in trading volume of 42% from its average.
• Analysts have upgraded Nano Labs to a "hold" rating, indicating a cautious outlook on the company's stock performance.
• The company specializes in integrated circuit design and develops advanced computing solutions, including high-performance chips and distributed computing technology.

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA - Get Free Report)'s stock price rose 0.9% on Tuesday . The stock traded as high as $4.71 and last traded at $4.66. Approximately 241,598 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 419,365 shares. The stock had previously closed at $4.62.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Nano Labs to a "hold" rating in a report on Saturday, July 12th.

Nano Labs Trading Down 3.9%

The firm's fifty day moving average is $8.26 and its two-hundred day moving average is $6.26. The company has a quick ratio of 1.61, a current ratio of 1.75 and a debt-to-equity ratio of 0.73.

About Nano Labs

Nano Labs Ltd operates as a fabless integrated circuit design company and product solution provider in the People's Republic of China and internationally. It develops high throughput computing and high-performance computing chips. The company also offers distributed computing and storage solutions, smart network interface cards, and vision computing chips, as well as distributed rendering technology.